GOVERNMENT POLICY

Rotorua Morning Post, Volume 1, Issue 192, 7 April 1932, Page 5

GOVERNMENT POLICY

("Post" Special Commissioner).

blSGUSSED IN CAUCUS iNTEREST, RENTS AND PUBLIC SERVICE WAGES INCLUDED IN CUTS FORECAST TAX ON GOVERNMENT BONDS

, - WELLINGTON, Wednesday. Members of , the Coalition" "Party met in caucus to-day and were given an insight into the legislation to he introduced by the Government during the remain der of the present sesSion. A Lull statement of the Goverriment's intentions " wris made by the Rrime Minister, the Rt. Hon. G. W. Fdrbes, who- also outlined the riature of the statement which is to be- made, pfbbably to-morrow, by the Minister of Finance, the Hon. W. Downie : Stfewart. -Tbe Prime Minister informed tbe "Post's" coriimissioner this afternoon that, although there had bfeen some . differences of oninion in regard to cfertain points of the Government's jxolicy, th-e general eonsensus of opinion in the caucus had been that the Government was pursuing the right course in view of the condition of ihe couritry's financfe. Replying to questions, the Prime Minister said that following the presentation of Mr, Stewart's statement ihe HouSe would be- given a full opbortunity to discuss the reports of ihe Ecoriom-ic Committee and the : National Expenditure Commission. Cne coriipreherisive Finance Bill embodying tbe "policy of the Governbtfent would then be introduced and ihe rrs^ing of this Bill would practically fcririg ari end to the business bf Parliament. Tt ve-s nossible that one or two other measures would be necessary. Mr. Forbes continued, but unless the rr?.tte->s dealt with were of the first imnortarice,. ihey would be postponed Until the inain session. It had noi yet beeri de'cided whether the House would" mferely adjourn, whether a new session would he opc| ed in June. Mr. Forbes said he still adhered to his opiniori that the present session woiiid conclude by the end of this monih. It was learried on reliable authority to-night that three main economy proposals were outlmed to the caucus as a feature- of the Govfernment's policy. These were: (1) A second "cut" in the wages of public servants on a graduated basis, rising from five per cent. to 12| per cent. (2) Reductions in certain classes of pensions. (3) A stamp duty on coupons and interest warrants for the purpose of reducing the burden of fixed charges on Government bonds. This proposal was mooted by the National Expenditure Commis'sion. (4) A reduction of interest charges on the basis of 20 per cent. (5) A reduction iri rents under leases, with the right of appeal. There will be rid statutory reduction in weekly rents.